Technical: On the 4 hour AFX:GBPUSD chart, a widespread bearish candled formed. This was followed by a second, much wider spread candle, both of which were validated by increasing volume.
Fundamental: Initial jobless claims were released in the US at 10:30UTC+10 with a result of 236K down from 238K in April and better than forecasted 245K. All in all a positive result. In the UK, BOE held rates steady today, lowering 2017 growth forecasts.
Relational: US Bond yields up across the board suggesting a flow into FX and equities.
In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
Thank you for sharing this chart. Continue your good work.